Repeals a constitutional provision on the taxation of intangible personal property in New York.

The bill repeals section 3 of article 16 of the New York State Constitution, which pertains to the taxation of moneys, credits, securities, and other intangible personal property in the state that is not employed in carrying on any business. The repeal is intended to be effective after the next general election of members of the Assembly.

Repeals a constitutional provision on the taxation of intangible personal property in New York.

The bill repeals section 3 of article 16 of the New York State Constitution, which pertains to the taxation of moneys, credits, securities, and other intangible personal property in the state that is not employed in carrying on any business. The repeal is intended to be effective after the next general election of members of the Assembly.